Sugar price increased

Published : 9:12 am  September 20, 2018 | No comments so far |  |  (80) reads | 

Wholesale price of 1kg of sugar up by  Rs.15; Retail price up by Rs.20-30

 

Untitled-4 By Sheain Fernandopulle  

The wholesale price of 1 kg of sugar was increased by Rs. 15, while the retail price was increased by Rs.20-30 with effect from yesterday, Sri Lanka Sugar Importers Association (SLSIA) Deputy President Hemaka Fernando said.

 

Addressing a news briefing, he said the prices had to be increased considering the Government’s decision to increase the entire tax amount imposed on sugar to Rs. 49 from Rs.31.  


“Prior to the decision, only the customs duty of Rs.31 was imposed on sugar because sugar had been included to the Special Commodity Tax List. However, the Government removed sugar from the list this Tuesday that resulted in adding another three taxes like PAL, Excise Duty and National Building Tax (NBT),” Fernando said.  


“The Government reduced the customs duty from Rs.31 to Rs.12 with effect from this Tuesday. However, although the customs duty was reduced, it was not exposed that another three additional taxes were included on sugar,” he said.  


“The entire tax amount imposed on sugar was previously at Rs.31 but now it has been increased up to Rs.49,” he added.  


He said they would write to President Maithripala Sirisena today regarding the increase of tax that had resulted in increasing wholesale and retail prices.  


“This would become an excessive burden for the general public because prices of other goods like fuel, gas and other essential goods are on the rise. Hence, we urge the Government to include sugar into the Special Commodity Tax List so that the sugar can be sold at a reasonable price,” he added. 

 

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